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Property Update (17 February 2015)

Singapore private-home sales down 35% year-on-year in January | businesstimes.com.sg

Singapore private-home sales down 35% year-on-year in January | BusinessTimes.com.sg

SINGAPORE — Singapore developers sold 372 private homes in January, up from the 230 units in December 2014. However, last month’s sales figure is still a 35 per cent drop from the 572 units moved in January 2014.

SINGAPORE — PropertyOne.com.sg is a newly launched online Singapore property listing portal which will offer to its users many innovative services in addition to the usual property listing, searching, bookmarking and alert notification to visitors on matching property. Propertyone’s unique features includes a native Facebook property search capability and a Customer Relationship Management system (CRM) for property agents. The website will be competing with the major existing portals currently working in Singapore.

The SG new launch team has compiled all the major new launches in Singapore offered by many major property developers in the market to provide a most comprehensive new property launches in Singapore and Asia region. In addition to new launches, they aim to include all resale properties or secondary market properties, covering both Housing Development Board (HDB) and Private Properties, including Apartment, Full facilities Condominium, Cluster House,and Landed Home in all estate under propertyone portal.

Property Analyst suggest that new entrants like PropertyOne.com.sg would help to further broaden the list of properties exposure in the market, helping potential buyers and tenant select the right properties for their own needs. PropertyOne also provide a segmentation of properties by Property Types such as HDB, Condominium/Apartment, Landed Home as well as segmentation by the official District marked by Singapore government. PropertyOne.com.sg offers to its visitor many desirable listing and properties with many of the modern amenities along with the convenience of searching for properties online.

Stakeholders such as buyers, investors, potential tenants can benefit from the services offered by PropertyOne.com.sg. All the stakeholders including Property Agents, Property Agencies and Property Developers may have their Singapore Property listed.

Prime London property market likely to be subdued until after election in May | PropertyWire.com

Prime London property market likely to be subdued until after election in May | propertywire.com

The mood of buyers and vendors alike in the prime London residential market is likely to remain subdued up until after the general election in May, it is claimed.
Uncertainty surrounding a potential mansion tax, interest rates and the introduction of capital gains tax liability for non-resident owners are also contributing to the general market angst, according to the 2015 market forecast report from Chestertons.

Moreover, a tightening mortgage regulatory environment with the European Mortgage Credit Directive due for implementation by 2016 and the Basel III requirements by 2019 on top of recent new UK rules, may see lenders become more cautious, the firm believes.

Indeed, anecdotal evidence suggests that even high net worth individuals are experiencing more difficulty in having their mortgage applications processed despite the fact that exemptions from MMR requirements were given to those with a net annual income of at least £300,000 or a net worth of at least £3 million.

Top of the Superrich’s Real-Estate Wishlist? New York, Aspen | wsj.com

Top of the Superrich’s Real-Estate Wishlist? New York, Aspen | wsj.com

The superrich have been busy scooping up luxury pads around the world. Last year, they liked nowhere better than the U.S.

New data from a study of “ultra-high-net-worth individuals” – richer still than the 0.1% – show that their swelling ranks are increasingly storing wealth in multimillion-dollar mansions around the world.

When a location gains favor with these cash-abundant buyers, defined as those with at least $30 million in assets, luxury home prices tend to jump. And in 2014, New York and Aspen saw prices rise 18.8% and 16%, respectively, putting the cities first and second on a list the 100 global locations featured in Knight Frank’s Prime International Residential Index.

Renewed confidence in the U.S. economy has helped attract wealthy investors “focused on key safe-havens, where they consider the market safe enough to put their money into bricks-and-mortar,” said Kate Everett-Allen, head of international research at the firm.

San Francisco and Los Angeles were also in the top 10. Overall, luxury property in U.S. cities analyzed saw prices rise by almost 13% on average.

Others regions were shunned, especially second-home destinations in Europe like Cannes and Tuscany. Compared to the U.S., “the disparity with Europe’s cities is stark,” said Ms. Everett-Allen said.